Given the difficult situation that the current economy is going through, many people fail to meet the requirements that the different entities request in order to access a debt reunification.

One of the options already handled several entities, is the possibility of granting Reunification debt without collateral. In many cases, and l do not have a property that serves as collateral or guarantee is an impediment to access a reunification of credit, as our creditors could not take legal action on property in case of default. For this reason the possibility of reunification of debts without collateral is the ideal solution for this type of client, and many financial entities are promoting this type of strategy that undoubtedly simplifies the lives of the clients.

In this sense, one of the main characteristics that has a reunification of debts without endorsement is that We need to have a good that serves as guarantor, although in return we must support commissions and higher rates than those in which they require a guarantee. Another issue to keep in mind is that the Internet has become an important tool, since without moving from your home, you can access different programs designed to calculate the impact of obtaining the capital according to the particular characteristics of each.

Reunification a debt without collateral

Reunification a debt without collateral, it is a good opportunity to unify all of their credits and loans into one payment, where there will be a single lending institution, and above all without having to meet a host of requirements. In conclusion, we can emphasize that this solution is often presented as a unique alternative to be able to face current problems. Those interested in a reunification without mortgage are divided into two groups, those who own a property that can provide a guarantee and those that do not. In the first case in which you have a real property you can use it as a guarantee for reunification. The bank grants a lower fee through a new mortgage thus reducing the costs of the return. In the case of not having an immovable property, the entity may have more difficulties to grant a reunification. In any case, there is the possibility of requesting a single loan in better conditions to pay off the other loans.

The best conditions have to be both in a lower interest and in a longer term. Another option is to use an external guarantor who does have a mortgage. Finally, we can say that the reunification of loans is one of the most popular options for those people who have taken several loans and now for some reason can not return them or for those who want to increase their savings capacity. Most reunification entities require a mortgage to access this process but those who do not have it can also enjoy a debt reunification.

Credit refinancing is another term for debt restructuring and can thus refer to one or more loans. An additional borrowing is possible in principle.

The prerequisite for a refinancing is that the previous loan can be repaid early. This is the case with consumer loans in principle, but often against the payment of a prepayment penalty, the case. In the case of real estate loans, on the other hand, premature repayment and thus refinancing can be contractually excluded during the first ten years of the fixed interest period.

A refinancing must be associated with benefits

Some banks automatically propose to their clients, in conjunction with a new loan, the refinancing of existing liabilities so that they only have to pay back one loan. The reduction in the number of creditors, however, is not a real advantage, because the expense for the already predominantly by direct debit payment of credit installments is low. Also, the score value within the private credit information is not appreciably affected by several loans in progress, of concern in this context is only the almost simultaneous application for multiple loans.

The main advantage of a loan refinancing is the reduction of the cost of a loan through a favorable loan. In calculating the potential savings, consumers take into account, in addition to the interest on the old and the new loan, any prepayment interest that may have to be paid for the early redemption. In addition to the low lending rates, a flexible repayment is possible for the new loan. Ideally, the borrower may not only repay the new funding early, but may also take a break from the plan once a year, or at least every two years. Such facilitates the proper loan repayment with surprising additional expenditure or exceptionally missing revenue.

In some cases, refinancing without meaningful savings makes sense. This is especially true when the new loan is associated with a significantly lower duration than the previous loan, so that the monthly installments fall. Before the replacement of the previous credit agreement by a new loan, a request for a possible contract change with the previous lender is possible.

The process of refinancing a loan

In the case of a loan refinancing, the new lender needs the certainty that the customer actually repays existing liabilities and does not take up another loan in contrast to his statements. For this reason, he does not transfer the loan amount to the applicant, but directly offsets the existing credit accounts. An exception, of course, the compensation of the disposition credit, since the money intended for this purpose inevitably enters the customer’s current account. This also applies to a top-up amount.

Many banks are demanding that the borrower settle all existing liabilities as part of a loan refinancing. As a rule, special loans such as real estate financing are excluded, as well as low-interest vehicle loans and interest-free dealer financing. If consumers want to refinance only a portion of the existing loans, they look for a bank in their credit comparison, which allows a partial rescheduling.

Some credit institutions offer a lower interest rate for a loan refinancing than for a non-earmarked consumer loan. However, the discount does not exclude that another financial institution awards the loans without earmarking on better terms.

The term of a loan refinancing may not be too short. Otherwise, there is a risk that the borrower, especially when settling the loan installment, will once again use its discretionary loan repayments, which will again result in high interest costs.

A refinancing with a weak credit rating

The rejection of an application for a refinancing of existing loans, the motive of which was a desired interest savings, is easily bearable. Finally, the current loan agreements remain in the event of a failed debt restructuring.

The likelihood of lending despite a weak credit rating increases if the applicant applies for the new loan to refinance existing loans with a second person. This must have a regular income and a private credit information without negative entry. In principle, anyone can act as a co-credit borrower, even if individual credit institutions presuppose a joint residence of both credit customers.

As an alternative to refinancing existing loans through a bank, organized personal loans are conceivable. This applies in particular to the case where the borrower is forced to rely on a longer term and the associated low monthly installments and the current bank has not approved of a contract amendment. Private credit applicants expressly point out this fact in their request, since many members active on the respective platforms as lenders are also guided by the urgency of private lending. They do not see this as a given when they want a mere interest savings, while they understand the need for rate reduction.

It is now known that debt collection agencies use often incorrect means to fulfill their duty. It is therefore very important to know in an accurate manner the limits that these figures can not exceed in the exercise of their attributions. In this way you will know how to defend yourself from credit collection agencies without running into legal problems. Below I will list some specific illegal behaviors: recognizing them and reporting them to the authorities is the first step to protect themselves and not be caught unprepared.

How to defend yourself from debt collection companies:

In the first place, it is good to be informed about how to use the force, violation of domicile and any intimidation: the debt collectors of the debt collection companies can never :

Use or threaten the use of force against the debtor, or a family member or cohabitant.

They can not damage or threaten to damage property owned by the person,

Block access to the house; and they obviously have no right to enter someone else’s home if the person has denied permission to enter.

Furthermore, the debt collectors can not contact the person more frequently than they should or at unreasonable times: it is unacceptable in this direction to continue to call non-stop or unreasonable hours to the person as a method to demoralize.

In addition, debt collectors’ debt collectors can not make statements about the sums owed by the debtor, or contact the spouse or partner of the latter (if they are not guarantors or guarantors of the debt).

Defend yourself from debt collection agencies: this is what should never happen

In recent years, debt collection activities have taken on very unpleasant ways in Italy: too often specialized companies, operating on behalf of corporate giants, use unorthodox and, ultimately, irregular methods.

In order to put an end to these events and to allow citizens to defend themselves from debt collection companies, the Privacy Guarantor has issued a general provision that establishes the principles to which operators in the sector must comply.

The intervention of the Guarantor finally came after some investigations initiated by the Authority following numerous reports and complaints about the illegal use of personal data in the activity of debt collection. As described above, from the reality of things emerged the following practice: through the agents were put into place mode of research, contact, request for payment of sums due, particularly invasive.

Defend against debt collection companies and the principles and provisions defined by the Privacy Guarantor

From now on, debt collection companies will be required to comply with the principles of lawfulness, correctness of the processing, relevance, purpose of the data and the duty of disclosure to the interested parties.

Here’s what will no longer be lawful:

no invasive practices or harming personal dignity will be accepted.

Furthermore, credit collection companies will no longer be allowed to disclose information relating to non-payments to others who are not the data subject (unjustifiably) in order to request payment.

It will no longer be possible to make the content of a communication visible to outsiders (as often happens with the use of postcards or by sending envelopes bearing the word “credit recovery”): it is now necessary to bring the solicitations of payment to the exclusive knowledge of the debtor only, using closed envelopes, absolutely without specific writings.

The activity of posting notices of arrears on the door of the house by the persons in charge of debt collection becomes definitively illicit, a modality that makes possible the diffusion of the personal data of the interested party towards an indeterminate multitude of subjects.

In the end I wanted to remind you that the first step to defend yourself from debt collection companies is your awareness of your consumer and citizen rights. If you are faced with a debt collector who breaks the rules, ask him to identify himself with an identity document and declare him. Now the law protects you.